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The Government of Pakistan ("GOP") through the Privatisation Commission ("PC") intends to offer and list 5% (approximately 18.65 million shares post bonus
issue1) of its shares in National Bank of Pakistan
(NBP) through an offer for sale to the general public on the domestic stock
exchange(s).
NBP is one of the largest commercial banks in Pakistan operating over 1400 branches nationwide. The bank handles treasury transactions for the Government of Pakistan as an agent to the State Bank of Pakistan. NBP also acts as a trustee for
NI(U)T. Key financial figures of NBP are given below:
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December 1997 |
December 1998 |
December 1999 |
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PKR |
US$ |
PKR |
US$ |
PKR |
US$ |
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Shareholders Equity
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9,203
|
158
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9,978
|
172
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10,149
|
175
|
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Investments
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109,485
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1,884
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102,969
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1,772
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91,278
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1,571
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Deposits
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254,863
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4,387
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273,391
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4,706
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294,754
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5,073
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Advances
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105,597
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1,818
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109,356
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1,882
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122,294
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2,105
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Total Assets
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310,598
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5,346
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325,931
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5,610
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349,933
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6,023
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Pre-Tax Profit
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2,135
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37
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996
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17
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311
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5
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* 1 US$=PKR 58.10 (Interbank rate)
Note: December 2000 results are under audit and will be provided to the underwriters
Expressions of Interest ("EOI") are invited from underwriter(s) (allowing formation of syndicates) for underwriting the entire public issue of approximately 5% GOP owned shares of NBP. The "Prospective Underwriter(s)" willing to underwrite the issue at the highest price per share (approximate book value Rs. 37 per share post bonus issue) on net basis (after deducting any underwriting costs inter-alia including up-front underwriting fees & take up commission) would subsequently be selected through open bidding process details of which will be given in the bid documents.
The prospective underwriters wishing to participate in the underwriting of 5% GOP owned shares of NBP should submit EOI's accompanied with a bank draft favouring "Privatisation Commission, Government of Pakistan" amounting to PKR 50,000/- (Rupees fifty thousand) as non-refundable processing fee by 15:00 hrs on Monday, April
30, 2001. The prospective underwriters may collect a list of documents/information prior to submitting EOI's from the Privatisation Commission. An information package based on the above list will be centralised and available for review by the underwriters at NBP, Head Office, Karachi.
The parties submitting EOI's will inter-alia be given the bid documents and draft Offer for Sale Document of NBP.
For any queries in this regard please contact Mr. Muhammed Farhan Malik, Consultant, Privatisation Commission at Tel # (92-51) 9205146 ext. 234.
1 subject to corporate and shareholder approvals
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All EOIs to be submitted shall not be construed as or intended to be:
(i) an offer or invitation to acquire any securities of NBP; or (ii) a representation or warranty, express or implied, with respect to any statement made herein. |
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Mr. Ahmad Waqar, Additional Secretary,
Privatisation Commission, Government of Pakistan,
5-A, Constitution Avenue, EAC Building, Islamabad, Pakistan.
Tel # (92-51) 9205146/7/9, Fax # (92-51) 9203076
e-mail: info@Privatisation.gov.pk |
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